The ₹ 828-crore initial public offering (IPO) of Fujiyama Power Systems, which provides solutions for the rooftop solar industry, will open for subscription on Thursday, November 13 and conclude on November 17.

Ahead of the issue launch, the company raised ₹ 247 crore from anchor investors.

The anchor book saw participation from 15 entities, including Nippon India Mutual Fund (MF), Tata MF, BNP Paribas, ValueQuest — Investment Advisors, Societe Generale, LC Pharos Multi Strategy Fund, Astorne Capital, and Citigroup Global Markets Mauritius.

In a pre-IPO round, Fujiyama Power Systems had raised ₹ 75 crore from VQ FasterCap Fund II and ValueQuest India G.I.F.T. Fund with the promoters selling nearly 1.2% stake in the company.

SMIFS recommended subscribing to the IPO as a strong lon

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